Countrywide Home Loans
"Countrywide Financial Corp. boosted October loan production by 4 percent over the previous month, to $22 billion, funneling more than 90 percent of loan production through its banking division.
Nonpurchase loans represented the majority of mortgage loans funded in October, at $12.7 billion, with Countrywide facilitating an additional $9.3 billion in purchase loans.
Compared to a year ago, October loan production was down 48 percent, and delinquencies and foreclosures in Countrywide's $1.47 trillion loan servicing portfolio continued to grow, the company announced today.
Delinquencies as a percentage of unpaid principal balance rose to 5.94 percent, compared with 3.97 percent a year ago. Foreclosures pending rose to 1.28 percent, more than double the 0.58 percent registered at the same time last year.".....Countrywide Loan Production Increases in October
Tuesday, November 13, 2007
Countrywide Loan Production increased in October
Countrywide Home Loans
"Countrywide Financial Corp. boosted October loan production by 4 percent over the previous month, to $22 billion, funneling more than 90 percent of loan production through its banking division.
Nonpurchase loans represented the majority of mortgage loans funded in October, at $12.7 billion, with Countrywide facilitating an additional $9.3 billion in purchase loans.
Compared to a year ago, October loan production was down 48 percent, and delinquencies and foreclosures in Countrywide's $1.47 trillion loan servicing portfolio continued to grow, the company announced today.
Delinquencies as a percentage of unpaid principal balance rose to 5.94 percent, compared with 3.97 percent a year ago. Foreclosures pending rose to 1.28 percent, more than double the 0.58 percent registered at the same time last year.".....Countrywide Loan Production Increases in October
"Countrywide Financial Corp. boosted October loan production by 4 percent over the previous month, to $22 billion, funneling more than 90 percent of loan production through its banking division.
Nonpurchase loans represented the majority of mortgage loans funded in October, at $12.7 billion, with Countrywide facilitating an additional $9.3 billion in purchase loans.
Compared to a year ago, October loan production was down 48 percent, and delinquencies and foreclosures in Countrywide's $1.47 trillion loan servicing portfolio continued to grow, the company announced today.
Delinquencies as a percentage of unpaid principal balance rose to 5.94 percent, compared with 3.97 percent a year ago. Foreclosures pending rose to 1.28 percent, more than double the 0.58 percent registered at the same time last year.".....Countrywide Loan Production Increases in October
PMI Insurers may owe thanks to Piggy Back Mortgages
"The PMI companies pressured Congress and did get a limited short-term income tax deduction for PMI premiums but borrowers continued to flock to piggy-backs.
Well, talk about dodging a bullet. There were probably hundreds of thousands of buyers who opted for a piggy-back arrangement rather than PMI in the last half dozen years. The Federal Reserve has reported that 22 percent of new loans written in 2005 and 2006 used the second mortgage approach. Think of all of the potential foreclosures for which the PMI companies are not going to be on the hook....." Private Mortgage Insurance
Well, talk about dodging a bullet. There were probably hundreds of thousands of buyers who opted for a piggy-back arrangement rather than PMI in the last half dozen years. The Federal Reserve has reported that 22 percent of new loans written in 2005 and 2006 used the second mortgage approach. Think of all of the potential foreclosures for which the PMI companies are not going to be on the hook....." Private Mortgage Insurance
PMI Insurers may owe thanks to Piggy Back Mortgages
"The PMI companies pressured Congress and did get a limited short-term income tax deduction for PMI premiums but borrowers continued to flock to piggy-backs.
Well, talk about dodging a bullet. There were probably hundreds of thousands of buyers who opted for a piggy-back arrangement rather than PMI in the last half dozen years. The Federal Reserve has reported that 22 percent of new loans written in 2005 and 2006 used the second mortgage approach. Think of all of the potential foreclosures for which the PMI companies are not going to be on the hook....." Private Mortgage Insurance
Well, talk about dodging a bullet. There were probably hundreds of thousands of buyers who opted for a piggy-back arrangement rather than PMI in the last half dozen years. The Federal Reserve has reported that 22 percent of new loans written in 2005 and 2006 used the second mortgage approach. Think of all of the potential foreclosures for which the PMI companies are not going to be on the hook....." Private Mortgage Insurance
Wednesday, November 7, 2007
Beazer Home Builder reduces....
"Home builder Beazer reported this week that it cut 650 positions -- or 25 percent of its workforce, in October . Since peaking in March 2006, the company's workforce has been slashed by about 50 percent "through reductions in force and attrition," the company reported this week. The company referred to the major layoff and dramatic downsizing in workforce as "recent headcount reductions."
Meanwhile, an investment group that works with pension funds sponsored by affiliates of a group of unions that collectively represent about 6 million members is asking for another head to roll at Beazer: that of the CEO and president....." Inman News blog
Meanwhile, an investment group that works with pension funds sponsored by affiliates of a group of unions that collectively represent about 6 million members is asking for another head to roll at Beazer: that of the CEO and president....." Inman News blog
Beazer Home Builder reduces....
"Home builder Beazer reported this week that it cut 650 positions -- or 25 percent of its workforce, in October . Since peaking in March 2006, the company's workforce has been slashed by about 50 percent "through reductions in force and attrition," the company reported this week. The company referred to the major layoff and dramatic downsizing in workforce as "recent headcount reductions."
Meanwhile, an investment group that works with pension funds sponsored by affiliates of a group of unions that collectively represent about 6 million members is asking for another head to roll at Beazer: that of the CEO and president....." Inman News blog
Meanwhile, an investment group that works with pension funds sponsored by affiliates of a group of unions that collectively represent about 6 million members is asking for another head to roll at Beazer: that of the CEO and president....." Inman News blog
Tuesday, October 30, 2007
Investors Rental Home Soars in Value
Investors Rental Home Soars in Value:
"The octagonal home is in Dillon Beach, Calif., and was built in 1976. It's on a bluff with ocean views. The residence has three bedrooms, three bathrooms and a fireplace. The house includes a 400-square-foot garage for two small cars. Dillon Beach overlooks Tomales Bay and is popular with seasonal and full-time renters. The community is about 30 miles from Petaluma, Calif.... Investor Rental Homes
Purchase price: $450,000. Ms. Janssen bought the property with her son, Evan Blacksea, now 25, in 2000. She placed a 20% down payment and financed the purchase with a 30-year fixed-rate mortgage....." Invesors Rental Homes
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